Managements Responsibility To the Members and Board of Directors of Nishnawbe Aski Development Fund Management is responsible for the preparation and presentation of the accompanying consolidated financial statements includin g responsibility for significant accounting judgments and estimat es in accordance with Canadian accounting standards for notfor profit or ga ni za ti on s T hi s re sp ons i bil it y in cl u de s s el ec ti ng a pp ro pr ia te a cc ou nt in g pri nc ip le s an d me th od s a nd m aki n g d e ci sio ns a ff ec ti ng t he measurement of transactions in which objective judgment is requ ired In discharging its responsibilities for the integrity and fairn ess of the consolidated financial statements management design s and maintains the necessary accounting systems and related internal controls to provide reasonable assurance that transactions are authorized assets are safeguarded and financial records are pr operly maintained to provide reliable information for the prepa ration of consolidated financial statements Th e B oa rd of D ir ec to rs i s co mpo s ed en ti re ly o f Di re ct ors wh o are n ei th er m an ag em en t n or e mp lo ye es o f th e Or ga niz at i on T he B oa rd i s responsible for overseeing management in the performance of its financial reporting responsibilities and for approving the fi nancial information included in the annual report The Board fulfils th ese responsibilities by reviewing the financial information pre pared by management and discussing relevant matters with management and external auditors The Board is also responsible for recommend ing the appointment of the Organizations external auditors MNP LLP is appointed by the Board to audit the consolidated financial statements and report directly to them their report follows The external auditors have full and free access to and meet period ically with management to discuss their audit findings June 25 2013 Executive Director Management s Responsibilities 18 Nishnawbe Aski Development Fund